China to dominate global display capacity by 2028

In its latest display capacity report, Counterpoint Technology Market Research noted that China is still expected to dominate global display capacity, growing from a 68% share in 2023 to 75% in 2028.

Counterpoint said China’s capacity is expected to grow at a 4% compound annual growth rate (CAGR) from 2023 to 2028.

For the rest of the APAC region, South Korea’s share is expected to fall from 9% in 2023 to 8% in 2028, on a 0.6% CAGR; Taiwan’s capacity is expected to decline at a -2.3% CAGR from 2023 to 2028, with its share falling from 19% in 2023 to 16% in 2028; while Japan’s share is expected to fall from 4% in 2023 to 1% in 2028 due to Sharp’s closure of SDP G10 and Sakai G4.5 OLED in Q3 2024, JDI Tottori LCD in Q2 2025 and Mobara LCD in Q2 2026, on a -21.3% CAGR from 2023 to 2028.

India, on the other hand, is expected to delay the investment until after 2028, with operations expected to begin in 2030.

Source: Quarterly Display Capex and Equipment Market Share – Capacity Report

Capacity by application

LCD TV/IT will continue to dominate during the forecast period with a share of at least 73% through 2028, followed by LCD mobile/IT with a share of at least 14%, according to Counterpoint. OLED mobile/IT will rise to a 7% share by 2028, while OLED TV/IT will maintain a 4% share.

OLED mobile/IT is expected to enjoy the fastest growth from 2023 to 2028 at a 6.7% CAGR, followed by OLED TV/IT at 2.6% and LCD TV/IT at 2.4%.

Display capacity

BOE is expected to maintain a large advantage in total display capacity, but its CAGR from 2023 to 2028 is now expected to be just 1.6%. China Star surpassed LGD in 2022 to rank second. In 2023, HKC surpassed LGD as LGD reduced its LCD capacity. Tianma is expected to grow the fastest with TM18 and TM19, rising at a 20% CAGR to capture a 3% share in 2028.